Estate of Sowell v. Commissioner
United States Tax Court
Decedent was trustee and life income beneficiary of a testamentary trust created by her husband. The trustee could invade the trust corpus in cases of emergency or illness. Held: Power to invade "in cases of emergency" can include occurrences other than maintenance and/or support and hence can have independent significance. Accordingly, decedent's power to invade corpus was a general power of appointment within the meaning of sec. 2041(a)(2), I.R.C. 1954.
1Opinion of the Court
Estate of Ida Maude Sowell, Homer T. Sowell, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Sowell v. Commissioner
Docket No. 14216-78
United States Tax Court
74 T.C. 1001; 1980 U.S. Tax Ct. LEXIS 82;
August 7, 1980, Filed
Decision will be entered under Rule 155.
Decedent was trustee and life income beneficiary of a testamentary trust created by her husband. The trustee could invade the trust corpus in cases of emergency or illness. Held: Power to invade "in cases of emergency" can include occurrences other than maintenance and/or support and hence can have…
2Cases cited11 opinions
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Industrial Trust Co. v. Commissioner of Internal Rev.Court of Appeals for the First Circuit · 1947
- Gregg v. GardnerNew Mexico Supreme Court · 1963
- St. Louis Union Trust Company, of the Estate of Frank Landwehr, Deceased v. United StatesCourt of Appeals for the Eighth Circuit · 1967
- Brown v. BrownNew Mexico Supreme Court · 1949
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